Wireless Connectivity Market Future Forecast 2023-2028

IMARC Group’s latest report, titled “Wireless Connectivity Market by Technology (Bluetooth, Wi-Fi, Ultra-Wide Band, NFC, Cellular, Zigbee, GPS, and Others), Network Type (Wireless Wide Area Network (WWAN), Wireless Personal Area Network (WPAN), Wireless Local Area Network (WLAN)), End User (Automotive and Transportation, Building Automation, Consumer Electronics and Wearables, Energy and Utilities, Healthcare, Industrial, IT and Telecom, and Others), and Region 2023-2028”, the global wireless connectivity market size reached US$ 107.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 233.5 Billion by 2028, exhibiting a growth rate (CAGR) of 12.60% during 2023-2028.

Wireless connectivity refers to the networking technology that is used for enabling a connection between two nodes or devices without using cables, cords, and wires. It is an easy-to-install method that is flexible and cost-effective, helps accessing information and updating the networks to meet new configurations while reducing the utilization of cables that are cumbersome to set up and impose safety threats. The application of wireless connectivity equipment is widely found in various electrical and electronic devices, such as GPS, Bluetooth, and Wi-Fi in smartphones, tablets, and printers. It is widely utilized in residential, commercial, and industrial sectors to enhance security, perform tracking, access the internet, and link devices by utilizing numerous Z-Wave solutions. 

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Wireless Connectivity Market Growth: 

The penetration of high-speed internet connectivity across developing countries is driving the global market. Coupled with this, the widespread adoption of cloud computing and the Internet of Things (IoT)-enabled platforms and the large-scale installation of wireless sensors in smart infrastructure are contributing to the market. In line with this, numerous favorable initiatives undertaken by the governments to develop smart cities have prompted major companies to incorporate numerous wireless surveillance cameras for asset monitoring and smart lighting technologies, which is providing an impetus to the demand. Moreover, the increasing demand for low-power wide-area (LPWA) networks in various IoT applications and significant adoption of wireless technology, including Bluetooth, Wi-Fi, and GPS, by several industries is augmenting the market.

Furthermore, the rising demand for smartphones among the masses and the increasing adoption of work-from-home and virtual learning culture pertaining to the COVID-19 pandemic, are creating a positive market outlook. Apart from this, the increasing demand for wireless connectivity for fast data transfer and exchange of information across the globe is further strengthening the demand for wireless connectivity. Additionally, the proliferation of cellular systems and wearables and the rapid advancements in radio frequencies are acting as another major growth inducing factors. The market is further driven by other factors, such as rapid digitalization, the escalating need for Wi-Fi in residential and commercial areas, and ongoing research and development (R&D) activities conducted by key players. 

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 

• Broadcom Inc
• Infineon Technologies AG
• Intel Corporation
• MediaTek Inc
• Microchip Technology Inc
• Nordic Semiconductor
• NXP Semiconductors N.V
• Panasonic Holdings Corporation
• STMicroelectronics N.V 
• Texas Instruments Incorporated

Key Market Segmentation: 

Breakup by Technology:

• Bluetooth
• Wi-Fi
• Ultra-Wide Band
• NFC
• Cellular
• Zigbee
• GPS
• Others 

Breakup by Network Type:

• Wireless Wide Area Network (WWAN)
• Wireless Personal Area Network (WPAN)
• Wireless Local Area Network (WLAN) 

Breakup by End User:

• Automotive and Transportation
• Building Automation
• Consumer Electronics and Wearables
• Energy and Utilities
• Healthcare
• Industrial
• IT and Telecom
• Others 

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other) 

Key Highlights of the Report: 

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape